|
AI boom is turning Malaysia’s palm oil estates into data centres
Malaysia lowers December crude palm oil reference price, maintains duty at 10%
CPO Futures Snap Two-Day Gains To Close Lower
Malaysian palm oil futures fall under fundamental pressure, amplifying the impact on other oil prices
MARKET TALK: Big Indonesia CPO Sales To Malaysia U
23/12/04 (Dow Jones)--Concerns rising CPO stocks in Indonesia may triggerheavy exports by producers there to Malaysia appear overdone, says traderin Singapore. Adds current Indonesian CPO export prices at $370/ton; afteradding freight charges, more expensive for Malaysian refiners to importraw material from Indonesia than to buy locally; therefore, no immediatelikelihood of influx of Indonesian CPO into Malaysia.
MARKET TALK: Brazil Soy Crop On Track; Bearish For
(Dow Jones)--Despite lower-than-usual rainfall, analysts still expectingBrazil's center-west to produce 30 million-32 million tons of soybeans incurrent season (up from 24.6 million last year); that suggests Brazil'spotential record crop this season still on track, which ultimately pointto bearish year ahead for edible oil prices.
MARKET TALK: China Palm Olein Stocks At 230,000 MT
23/12/04 (Dow Jones)--China domestic RBD palm olein market likely to stayunder pressure for awhile as stocks still rising, says Shanghai Pansun.Stocks at major ports swelled to around 230,000 tons this week amid weakdemand due to cold weather. Olein prices in China quoted aroundCNY4,450-CNY4,500 in most ports. Continued increase in stocks likely tokeep domestic prices under pressure, which in turn would limit Chineseimporters' fresh purchases from Malaysia, Indonesia, traders say.
One good reason to relocate industries abroad
Friday December 24, 2004 - TRADE unions are the ones which object the mostto any relocation of industries or businesses to another country as thiswould mean job losses for the locals.
Indian palm oil industry against cut in import tar
12/22/04 - Indian palm oil industry is against any cut in import duty onthe commodity and has sought 'plantation crop' status for oil palmcultivations in the country, a senior industry official said Wednesday. Hesaid an impetus to domestic oil palm cultivation will help meet shortfalland reduce foreign exchange outflow for imports.
MALAYSIA DEC PALMOIL OUTPUT 1.2 MLN TNS
KUALA LUMPUR, Dec 22 (Reuters) - Malaysia's palm oil output inDecember is expected to touch 1.2 million tonnes, crop forecaster PALMISManagement Sdn Bhd said on Wednesday.Production in November officially stood at 1.26 million tonnes.PALMIS's figures, compiled by independent market analyst Ivan Wong,forecast December palm oil exports at 965,000-970,000 tonnes.Exports in November officially stood at 1.10 million tonnes.Wong put end-December stocks of palm oil at 1.525 million to 1.535million tonnes, against the official 1.41 million seen at end-November.Reuters will publish on Thursday details of Wong's estimates on palmoil supply and demand for December.
MARKET TALK: Palm Oil Discount To Soyoil Could Sup
22/12/04 (Dow Jones)--Palm oil price discount to soyoil widening,suggesting downside for palm oil prices likely limited at least in nearterm, traders say. RBD palm olein now offered around $400.00-$402.50/ton,about $100-$120 cheaper than rival soyoil; wide price differential mayencourage consumer buying.
MARKET TALK: Ringgit Peg To Stay; Good For Malaysi
22/12/04 (Dow Jones)--Remarks from Malaysian central bank that it has noplans to revise ringgit peg likely a relief for Malaysian palm oilproducers. Recent market speculation of potential change in peg hadsparked some concerns as stronger ringgit would put downward pressure onCPO prices, traders say.
OPIL Dividends Jump
NEW DELHI - Dec 22/04 - SNS -- Dividends paid by Oil Palm India Ltd.(OPIL) to the India government reached a record Rs.4.992 million andRs.6.795 million to Kerala Government for 2003-04.
